AMC, Carnival and Eli Lilly
An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey on March 5, 2021.
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Find out which companies are making the midday headlines.
AMC Entertainment – The stock even jumped 17% more in intense trading following a 83% rally last week. Enthusiastic retail investors have continued to encourage each other to build up on social media platforms like Twitter and Reddit’s WallStreetBets forum. the Securities and Exchange Commission said On Monday, he is closely monitoring illegal trade to determine whether there have been “market disruptions, manipulative transactions or other faults.”
Carnival, Norwegian and Royal Caribbean – Cruise stocks increased on Monday after carnival plans confirmed for a restart in July. The trips will only be open to fully vaccinated passengers, the company said. Carnival shares gained 1.7%, while Norwegian and Royal Caribbean rose 3.5% and 1.4% respectively.
Eli Lilly and company – The biopharmaceutical title jumped nearly 10% after the FDA approved rival BiogenAlzheimer’s disease drug, the first new drug for the disease in nearly two decades. Eli Lilly is develop your own medicine to treat Alzheimer’s.
You’re here – Shares of the electric vehicle maker are trading around 1% lower after the company said it had canceled production of the planned Model S Plaid +, which was designed to be a high-end version of the Model S. This development comes as North American automakers grapple with a shortage of computer chips and other chain problems. supply.
platoon – Shares of the stationary bike company rose more than 6% after Loop Capital Markets gave Peloton a purchase note, saying the recent weakness in the stock is overstated. The stock saw a significant drop in May after the company recalled its treadmill products, although the shares have since recovered from the sale.
Progressive – Insurance giant’s stock fell around 4% midday after Morgan Stanley downgraded the stock to be underweighted by equal weight. With the return of road travel to the United States, its analyst said, the costs of additional auto claims and disaster coverage are expected to rise. The company reduced its price target on Progressive from $ 5 to $ 85 per share.
American concrete – Shares of the concrete supplier climbed 29% after the company said it would acquired by manufacturer of building materials Vulcan materials. Vulcan will buy US Concrete for $ 74.00 per share, a nearly 30% premium over US Concrete’s Friday closing price of $ 57.14.
– CNBC’s Maggie Fitzgerald, Tanaya Macheel, Jesse Pound and Yun Li contributed reporting
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